Top Pre-Market Analyst Downgrades (ACAS, BSX, CMVT, FSS, HPY, MRT, NENG, OTEX, RRI, RUTH)

These are some of the downgrades and cautious analyst calls we are seeing this Wednesday morning:

• American Capital (ACAS) Cut To Underweight from Neutral By JP Morgan.
• Boston Scientific (BSX) Cut to Underperform at Merrill Lynch.
• Comverse Tech (CMVT) Cut to Sell at Canaccord.
• Federal Signal Corp. (FSS) Cut to Sell at Goldman Sachs.
• Heartland Payment Systems (HPY) Cut to Underweight at JPMorgan.
• Morton’s Restaurant (MRT) Cut to Market Perform at Wachovia.
• Network Engines (NENG) Cut Hold at Cantor Fitzgerald.
• Open Text (OTEX) Cut to Hold at Canaccord.
• Reliant Energy (RRI) Cut to Neutral at Credit Suisse.
• Ruth’s Hospitality (RUTH) Cut to Market Perform at Wachovia.

Jon C. Ogg
October 1, 2008